NCE National Council of Exchangors
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National Council of Exchangors

1645

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1645

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1649

CONTROL: Exclusive VALUE: $500,000
    LOAN: $360,000
    EQUITY: $140,000
TITLE: 5 UNITS CORPUS CHRISTI TEXAS
TYPE OF PROPERTY: Multi-Family
HAVE: 5 units in Corpus Christi, TX, fully leased and managed, with private debt that can be moved. 3 separate legal descriptions, contiguous.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Corpus Christi, TX COUNTY:
BENEFITS TO NEW OWNER: Leased property that can be delivered free and clear or with any amount of Seller carry debt (does not have to be 12%) with redevelopment potential. Must be confirmed, but value appears to be in the land.
GROSS SCHEDULED INCOME: $42,000    Actual
VACANCY LOSS: $3,000
GROSS EFFECTIVE INCOME: $39,000
EXPENSES: $0
NOI: $39,000
DEBT SERVICE: $43,200
CASH FLOW: $-4,200
CAP RATE: 7.80%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $360,000 $3,600 12.00% 2022 Y
LOAN 2:      
BENEFITS SOUGHT: To move out of Texas. This debt was created for another acquisition and now we would like to move it or get rid of it. Would look at anything with income, or the right ranch.
CAN ADD: Leased single family home, Colorado multifamily properties, notes, new financing.
REMARKS: Numbers are not accurate as of the printing of the book. This retired Air Force Colonel is building a portfolio and moving through her smaller properties to do it. These are what she has in Texas and she is staying in Wyoming.
COUNSELOR: Blake Allen, EMS, CCIM
Allen Realty
108 Canon Ave
Manitou Springs, CO 80829
Phone: (719) 685-0707
Cell: (719) 684-4123
Fax: (719) 685-0400
blakeallenrealty@gmail.com
 
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